29 Jun Marketing Project – Description of the product and the company
Question
MARKETING PROJECT
Be sure to list all the sources you consulted for this project. PowerPoint presentation will consist of at least 5
slides. Two points automatically will be deducted if paper is not presented
You are to pick a readily available consumer product, that is, one that can be easily found in the supermarket or a
large drug store. You should be specific, pick a brand and a particular item. The project will be easiest if you select a
product that is very commonly used and with which you are familiar. Don’t select a little known product about
which it will be difficult to find information. If you’re not sure before you make your final selection do some
checking in the library or on the web. You cannot select products such as alcoholic beverages, tobacco products, E
Cigs, medical marijuana automobiles, electronics, sports teams, etc. You must pick something as described above.
You are to read the section on marketing in your text and identify the relevant marketing theory for each of the
questions below. You must site the text in your paper, chapter and page number for each question.
Your report should include each question numbered followed by your answer. After all questions have been
answered, prepare a written report, in which the questions below are summarized in three to four pages. Be sure
to use sub-titles for each section of your report. Points will be deducted from paper for failure to follow directions.
Marketing Project Questions
1. Introduction: a brief description of the product and the company that makes it. This should be no more
than a paragraph or two. The brand I chose to do my marketing project on is Neutrogena. It was founded by Emanuel
Stolaroff in 1930 with the original name, Natone. The company switched the name to Neutrogena
in 1967. It went public in 1973, with a $1.2 million market value. Neutrogena was bought by the
Johnson & Johnson company in 1994 with the price of $35.25 per share and a total cost of $924
million. When the company first started their product was a soap that didn’t dry out skin while
cleansing it. The original marketing was only to dermatologists and luxury hotels. Once Johnson &
Johnson bought the company however they launched new products for anti-aging and acne and
started to do international networking. Neutrogena now has a wide array of products. They make
body and bath products, cosmetics, men’s skin care, hair products, moisturizers and cleansers.
Neutrogena is currently available in over 70 countries. 2. Is the maker of this product using a mass marketing or market segmentation? If it is a target market
approach, how have they segmented the market? How can you tell this is their target market? Mass marketing is marketing a product, service, good, etc. on a large scale. With certain products
that aren’t made for specific groups you can use mass marketing to market the product to the
general public. However, if a product is made for a specific group, age, race, or gender, market
segmentation and target marketing is used. According to the text, “The process of dividing the
total market into groups with similar characteristics is called market segmentation” (Nickels,
McHugh and McHugh 376). Once a company figures out their market segmentations they can then use target marketing to select which of these market segmentations their product should be
advertised too. I believe the Neutrogena uses a mix of mass marketing and target marketing. For my specific
product, the Complete Acne Therapy System, it would be mass marketing. It is a product that can
be used for all ages, sexes, races and genders. It is a product to fight acne and can be used by
anyone with acne, it is not gender or age specific. However, the company has other products
specifically for males or females. For those products they would use market segmentation to get
their ads out to the specific target markets their products cater to. For example, they have a
separate men’s skin care line. When advertising these products, they would be advertising to a
target market of males as opposed to their female skin care lines which would be advertised to
female target groups. 3. What forces make up this product’s marketing environment? “Environmental scanning is the process of identifying factors that can affect marketing success”
(Nickels, McHugh and McHugh 372). There are five main factors that influence the marketing
environment; They are global, technological, sociocultural, competitive, and economic. 4. What factors might influence consumer decision-making process for this product? 5. There are five main parts of the consumer decision-making process. They are learning, reference
groups, culture, subculture, and cognitive dissonance. The learning stage is when the consumer
finds information about the product. This can be done from reviews and research online, asking a
friend or family member who has used a product, or buying a product from one company and not
liking it so they learn to not buy it again. reference group- Next is reference group, culture subculture cognitive dissonance Place (competitive & economic), Promotion (economic & global), price (global & technological),
and product (technological & sociocultural) Personally, as a consumer, I look at price of similar products, ingredients in a product, and if
products are tested on animals when making a decision of what product to buy.
What stage of the product life cycle do you think this product is in? How can you tell? 6. Does the manufacturer of this product make other products? If so how does this product fit into their
product mix? Where does this fit in the product line? 7. What are the major competitors – both other brands and other products – for this product? Do some
research by using library resources? What can you tell about the competitive position of this product
based on its placement on the store shelves? Visit at least 3 stores and list what you see. 8. What kind of packaging does this product have in terms of design, functionality, labeling, and warnings? How does it compare to competitors’ packaging? Consider various sizes, bundling.
9. What kind of pricing strategy and pricing tactics do you think the maker of this product employs? 10. What type of utility does this product satisfy? 11. What is the promotion mix for this product? What kind of advertising have you found for this product?
(Include examples where practical). What kind of publicity, if any, have you found for this product?
(Include examples where practical)
12. What are the distribution channels for this product?
13. Some concluding comments. Don’t just end the report.
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